De Bourg Remanded Until Sentencing

CapBank

by Donella Hosten

Almost 8 years after the demise of Capital Bank International, CEO and Chairman of the Board of Directors, Mr Finton De Bourg, was found guilty on 6 counts of fraud charges.

De Bourg faced the #2 High Court last Thursday afternoon where Justice Paula Gilford presided over the matter. He opted not to have legal representation as he represented himself. Throughout the hearing, De Bourg maintained his innocence.

After 3 hours of deliberation, the jury returned with a unanimous guilty vote. De Bourg was found guilty on 2 counts of fraudulent appropriation of property by a director and 4 counts of falsification of the minutes of the board meeting of the Bank which showed that certain loans were approved when in fact this was not the case.

According to the Director of Public Prosecution (DPP) Christopher Nelson QC, for each of the fraudulent counts there is a maximum penalty of 7 years attached. To the depositors who lost their monies, the DPP said there may be some hope as there is a receivership in place, but he did not speak further about the situation at this point.

The DPP stated that Mr De Bourg has the right to appeal once he believes he has sufficient evidence to do so. He said he believes that justice is being served, even though the wheels of justice have been turning slowly.

Justice Paula Gilford has requested for a Social Inquiry Report on 9 December, just 6 days before Mr De Bourg’s sentencing due on 15 December.

Mr De Bourg has since been remanded to Her Majesty’s Prison.

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